Vietnam’s labor productivity growth rate fastest in ASEAN in 1991-2012: report
Monday, March 16, 2015, 17:33 GMT+7
Vietnam recorded the fastest growth rate in labor productivity between 1991 and 2012 when compared to other member countries of the Association of Southeast Asian Nations (ASEAN), according to a report recently released by the Institute of Chartered Accountants in England and Wales (ICAEW).
The country exhibited a remarkable 184 percent growth rate over this period, equivalent to five percent per year, the ICAEW said in its “Economic Insight: Southeast Asia” quarterly briefing Q1/2015, citing data from the International Labor Organization.
The country was followed by Thailand, Singapore, and Malaysia with 85 percent, 81 percent, and 80 percent, respectively.
All the major ASEAN economies achieved faster productivity growth than the U.S. between 1991 and 2012, with the exception of the Philippines, the report said.
